The uncertainties of the global economy, the new Covid-19 mutation, and risks from lawsuits and trade remedies will have an impact on Vietnam’s economy in 2021, experts say. A report on Vietnam’s economy in 2020 and prospects in 2021 was released by the Central Institute of Economic Management (CIEM) on January 15, showing a bright outlook for Vietnam’s economy this year. CIEM researchers described two scenarios, based on assessment of agencies and institutions on the world’s economic prospects and Vietnam’s economic development, as well as different economic policies. Vietnam’s GDP growth rate may reach 5.98 percent in 2021 under Scenario 1, and 6.46 percent under Scenario 2. The export turnover in 2021 is predicted to grow by 4.23 percent under Scenario 1 and 5.06 percent under Scenario 2. The trade surplus is predicted to be at $5.49 billion and $7.24 billion, respectively, while the inflation rates would be 3.51 percent and 3.78 percent. According to CIEM, Vietnam’s macroeconomic performance in 2021 will be influenced by the world economy, which is still uncertain. The US is expected to continue to apply measures to restrain China’s economy, trade and technology, and may team up with some partner countries to implement measures. Trade… Read full this story
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